Short Interest in Putnam Managed Municipal Income Trust (NYSE:PMM) Decreases By 69.8%

Putnam Managed Municipal Income Trust (NYSE:PMM) was the target of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 11,700 shares, a decrease of 69.8% from the January 31st total of 38,700 shares. Based on an average daily volume of 152,400 shares, the short-interest ratio is currently 0.1 days.

Insider Activity at Putnam Managed Municipal Income Trust

In other news, major shareholder Of America Corp /De/ Bank purchased 16,585 shares of Putnam Managed Municipal Income Trust stock in a transaction that occurred on Friday, January 10th. The stock was acquired at an average price of $6.02 per share, for a total transaction of $99,841.70. Following the transaction, the insider now owns 16,585 shares in the company, valued at $99,841.70. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On Putnam Managed Municipal Income Trust

Several hedge funds have recently made changes to their positions in PMM. Raymond James Financial Inc. purchased a new stake in shares of Putnam Managed Municipal Income Trust in the 4th quarter valued at approximately $2,720,000. Advisors Asset Management Inc. boosted its stake in shares of Putnam Managed Municipal Income Trust by 22.9% during the 4th quarter. Advisors Asset Management Inc. now owns 797,465 shares of the company’s stock valued at $4,761,000 after buying an additional 148,493 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Putnam Managed Municipal Income Trust by 20.4% during the 4th quarter. Guggenheim Capital LLC now owns 712,551 shares of the company’s stock valued at $4,254,000 after buying an additional 120,948 shares during the period. Wolverine Asset Management LLC boosted its stake in shares of Putnam Managed Municipal Income Trust by 92.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 127,613 shares of the company’s stock valued at $831,000 after buying an additional 61,240 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Putnam Managed Municipal Income Trust during the 4th quarter valued at $350,000. Hedge funds and other institutional investors own 13.54% of the company’s stock.

Putnam Managed Municipal Income Trust Stock Up 0.2 %

Shares of NYSE:PMM traded up $0.01 during mid-day trading on Friday, hitting $6.29. The stock had a trading volume of 218,614 shares, compared to its average volume of 147,744. Putnam Managed Municipal Income Trust has a 12-month low of $5.82 and a 12-month high of $6.61. The company’s 50 day moving average is $6.16 and its 200-day moving average is $6.29.

Putnam Managed Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 24th will be given a $0.0238 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.29 annualized dividend and a dividend yield of 4.54%.

Putnam Managed Municipal Income Trust Company Profile

Putnam Managed Municipal Income Trust is a close-ended fixed income mutual fund launched and managed by Putnam Investment Management LLC. It is co-managed by Putnam Investments Limited. The fund invests in the fixed income markets of the United States. It primarily invests in a diversified portfolio of tax-exempt municipal securities, including high-yield securities that are rated below investment grade.